GOVAERTS HOLDING: what changed
What changed
GOVAERTS HOLDING
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€13.1m
2024 · €2.4m+€10.7m
Equity
€14.3m
2024 · €14.0m+€297,504
Cash
€63,617
2024 · €234,889-€171,272
Balance sheet total
€21.5m
2024 · €23.4m-€1.9m
Largest movements
Assets
- Receivables within one year -€1.8m
down €1.8m (-54.1%), from €3.3m to €1.5m
of which Other amounts receivable: -€1.5m
Equity and liabilities
- Other debts -€6.2m
down €6.2m (-89.2%), from €6.9m to €745,299
- Debts after one year +€4.2m
up €4.2m (+223%), from €1.9m to €6.0m
- Profit (loss) carried forward +€416,884
up €416,884 (+17.1%), from €2.4m to €2.9m
Income statement
- Financial income +€10.7m
up €10.7m (+404%), from €2.7m to €13.4m
- Turnover -€404,667
down €404,667 (-37.0%), from €1.1m to €689,601
- Services and other goods -€392,898
down €392,898 (-80.0%), from €490,837 to €97,938
- Financial charges -€87,678
down €87,678 (-30.8%), from €285,057 to €197,379
- Staff costs +€43,061
up €43,061 (+7.5%), from €570,561 to €613,622
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€2.4m
Turnover
-€404,667
Other operating income
-€9,130
Services and other goods
+€392,898
Staff costs
-€43,061
Depreciation
+€109
Provisions
+€923
Other operating charges
-€1,627
Financial income
+€10.7m
Financial charges
+€87,678
Result 2025
€13.1m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€8.5m
Investment
€0
Financing
-€8.7m
Cash 2024
€234,889
From operations (derived)
+€8.5m
Net result for the year
+€13.1m
Depreciation
+€1,526
Receivables within one year
+€1.8m
Smaller working-capital items
-€38,548
Trade debts
-€184,214
Other debts
-€6.2m
Financing
-€8.7m
Debts after one year
+€4.2m
Contributions, distributions and other
-€12.9m
Cash 2025
€63,617
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,368,207 | €21,454,784 | -€1.9m | -8.2% |
| Fixed assets | 21/28 | €19,725,787 | €19,724,260 | -€1,526 | 0.0% |
| Tangible fixed assets | 22/27 | €2,377 | €850 | -€1,526 | -64.2% |
| Furniture and vehicles | 24 | €2,377 | €850 | -€1,526 | -64.2% |
| Financial fixed assets | 28 | €19,723,410 | €19,723,410 | = | 0.0% |
| Affiliated companies | 280/1 | €19,723,410 | €19,723,410 | = | 0.0% |
| Participating interests | 280 | €19,723,410 | €19,723,410 | = | 0.0% |
| Current assets | 29/58 | €3,642,420 | €1,730,524 | -€1.9m | -52.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €3,258,985 | €1,496,570 | -€1.8m | -54.1% |
| Trade receivables | 40 | €325,775 | €85,558 | -€240,217 | -73.7% |
| Other amounts receivable | 41 | €2,933,210 | €1,411,013 | -€1.5m | -51.9% |
| Cash at bank and in hand | 54/58 | €234,889 | €63,617 | -€171,272 | -72.9% |
| Deferred charges and accrued income | 490/1 | €148,545 | €170,336 | +€21,791 | +14.7% |
| Total equity and liabilities | 10/49 | €23,368,207 | €21,454,784 | -€1.9m | -8.2% |
| Equity | 10/15 | €14,022,276 | €14,319,780 | +€297,504 | +2.1% |
| Contributions | 10/11 | €11,457,908 | €11,457,908 | = | 0.0% |
| Reserves | 13 | €119,379 | €0 | -€119,379 | -100% |
| Distributable reserves | 133 | €119,379 | €0 | -€119,379 | -100% |
| Profit (loss) carried forward | 14 | €2,444,989 | €2,861,872 | +€416,884 | +17.1% |
| Provisions and deferred taxes | 16 | €3,836 | €3,368 | -€468 | -12.2% |
| Provisions for liabilities and charges | 160/5 | €3,836 | €3,368 | -€468 | -12.2% |
| Other liabilities and charges | 164/5 | €3,836 | €3,368 | -€468 | -12.2% |
| Amounts payable | 17/49 | €9,342,095 | €7,131,635 | -€2.2m | -23.7% |
| Amounts payable after more than one year | 17 | €1,871,392 | €6,041,860 | +€4.2m | +223% |
| Other amounts payable | 178/9 | €1,871,392 | €6,041,860 | +€4.2m | +223% |
| Amounts payable within one year | 42/48 | €7,257,523 | €899,379 | -€6.4m | -87.6% |
| Trade debts | 44 | €199,644 | €15,430 | -€184,214 | -92.3% |
| Suppliers | 440/4 | €199,644 | €15,430 | -€184,214 | -92.3% |
| Taxes, remuneration and social security | 45 | €132,156 | €138,650 | +€6,494 | +4.9% |
| Taxes | 450/3 | €18,359 | €19,239 | +€880 | +4.8% |
| Remuneration and social security | 454/9 | €113,797 | €119,411 | +€5,614 | +4.9% |
| Other amounts payable | 47/48 | €6,925,723 | €745,299 | -€6.2m | -89.2% |
| Accrued charges and deferred income | 492/3 | €213,180 | €190,397 | -€22,783 | -10.7% |
| Operating income | 70/76A | €1,105,504 | €691,708 | -€413,796 | -37.4% |
| Turnover | 70 | €1,094,268 | €689,601 | -€404,667 | -37.0% |
| Other operating income | 74 | €11,236 | €2,107 | -€9,130 | -81.2% |
| Operating charges | 60/66A | €1,064,719 | €715,476 | -€349,243 | -32.8% |
| Services and other goods | 61 | €490,837 | €97,938 | -€392,898 | -80.0% |
| Remuneration, social security and pensions | 62 | €570,561 | €613,622 | +€43,061 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,635 | €1,526 | -€109 | -6.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €455 | -€468 | -€923 | |
| Other operating charges | 640/8 | €1,231 | €2,857 | +€1,627 | +132% |
| Operating profit (loss) | 9901 | €40,785 | -€23,768 | -€64,553 | |
| Financial income | 75/76B | €2,654,835 | €13,368,651 | +€10.7m | +404% |
| Recurring financial income | 75 | €2,654,835 | €13,368,651 | +€10.7m | +404% |
| Income from financial fixed assets | 750 | €2,510,000 | €13,200,000 | +€10.7m | +426% |
| Income from current assets | 751 | €144,835 | €168,651 | +€23,816 | +16.4% |
| Financial charges | 65/66B | €285,057 | €197,379 | -€87,678 | -30.8% |
| Recurring financial charges | 65 | €285,057 | €197,379 | -€87,678 | -30.8% |
| Debt charges | 650 | €284,564 | €196,696 | -€87,868 | -30.9% |
| Other financial charges | 652/9 | €492 | €683 | +€191 | +38.7% |
| Profit (loss) for the period before taxes | 9903 | €2,410,563 | €13,147,504 | +€10.7m | +445% |
| Profit (loss) for the period | 9904 | €2,410,563 | €13,147,504 | +€10.7m | +445% |
| Profit (loss) for the period to be appropriated | 9905 | €2,410,563 | €13,147,504 | +€10.7m | +445% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.